Payroll is one of the most important responsibilities for small business owners.
In this episode of Small Business Smarts, discover why getting payroll right from day one matters to manage compliance, build employee trust and protect business health for the long-term.
For more information, visit ADP.com/SPARK
Victoria Jordan, Founder of Pureworks Studio
Tax time is coming and I need some tips to make sure it is easy peasy. To help out. I am going to talk to Heather Sperduto with ADP.
Heather. Heather. Heather. I wanted to talk to you about how to make sure that tax time doesn't stress me out. What can I do to make sure it goes smoothly?
Heather Sperduto, vice president, sales operations - accountant channel, ADP
Well, hi Vicky, it is good to hear from you as you embark on getting ready for tax season, there's a few things you probably want to keep in mind. It's all about ensuring that you have the right dates in mind. Whether you're considering those quarterly filings, the annual filings, or the actual filings that traditionally happen in tax season. And as you get going for those consultative meetings with your accounting professional, you want to make sure that you gather all of the necessary documentation. So knowing the due dates, gathering the information are probably where you want to start.
Victoria
What is the difference between quarterly and annual filings?
Heather
That's a really important distinction. Quarterly filings give you an opportunity to manage compliance and to make regular payments throughout the year, which can reduce possible penalties and interest. Annual filings provide the final reconciliation that's necessary to close out the tax year and issue tax forms to employees and government agencies.
Victoria
So I should be, consulting with my CPA who can keep me abreast of regulations. And, they can also help me make sure that I'm not making any mistakes on my filings.
Heather
Yes. It's also having the right technology partners in place, like an ATP, to help you effectively run and take care of the most important asset of your business, which is your employee.
Victoria
Thanks so much, Heather. This was great. Thanks for coming on and sharing all this info.
Heather
Oh my pleasure Vicky, and it's always great to talk to you and hear about the updates as to what's going on in your business.
Victoria
For more guidance on how to be ready for tax time, go to ADP.com/Accountant
